Interindustry R&D Spillovers, Rates Of Return, and Production In High-Tech Industries / Jeffrey I. Bernstein, M. Ishaq Nadiri.

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Bernstein, Jeffrey I

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w2554.Publication details: Cambridge, Mass. National Bureau of Economic Research 1988.Description: 1 online resource: illustrations (black and white)Online resources:

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Abstract: This paper presents estimates of the productivity and factor bias effects of interindustry R&D spillovers for five high-tech industries. Each industry is distinguished as a separate spillover source. The industries are each affected by R&D spillovers and are themselves spillover sources. Thus a spillover network between the industries is estimated. Private and social rates of return to R&D capital are calculated. The private rates of return are generally greater than the returns to physical capital. In addition, the social rates of return are greater than the private rates. The results show that there are significant differences between industries as to their importance as sources of R&D spillovers.

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April 1988.

This paper presents estimates of the productivity and factor bias effects of interindustry R&D spillovers for five high-tech industries. Each industry is distinguished as a separate spillover source. The industries are each affected by R&D spillovers and are themselves spillover sources. Thus a spillover network between the industries is estimated. Private and social rates of return to R&D capital are calculated. The private rates of return are generally greater than the returns to physical capital. In addition, the social rates of return are greater than the private rates. The results show that there are significant differences between industries as to their importance as sources of R&D spillovers.